Security Deposit Buyback
In 2022, a survey conducted among our users revealed that 75% of them wanted the option to reduce their security deposit amount. To meet this demand, Easy Renter has developed an innovative solution to make renting easier and more reassuring.
What is Security Deposit Buyback?
Security Deposit Buyback is an option offered by Easy Renter that allows you to lower the default security deposit amount in exchange for an additional fixed fee. This option is available at the time of the security deposit, up to 48 hours before your rental begins.
Example: For a standard deposit of €1,700, you can choose to only block a bank authorization of €850 by using this option.
Why did we introduce this option?
The security deposit is essential to secure your two-wheeler rental. However, it can be a significant financial burden, cause unnecessary stress during the rental period, and sometimes even deter bookings.
By opting for the Security Deposit Buyback, you benefit from several advantages:
- Reduced financial risk: Lowering the amount blocked limits your liability in case of damage, providing greater peace of mind.
- Simplified deposit process: With a reduced amount to block, this step becomes easier and less restrictive.
- Less impact on your spending capacity: You keep more financial flexibility for other needs, making the rental more accessible.
How does this option differ from the standard security deposit?
The process remains the same, except that the deposit amount is reduced, simplifying banking procedures and limiting your financial commitment in case of an incident. Please note this option is paid, unlike the standard security deposit, which is free.
To learn more about how the security deposit works, check out our online guide.
When can I subscribe to this option?
You can choose between the standard security deposit and the buyback option at the time of the deposit, up to 48 hours before your rental starts. After selecting your preferred option, you will be guided step-by-step to finalize the deposit.